What is the minimum time frame for retaining a workfile?

The minimum time frame for retaining a workfile is five years. This requirement aligns with the regulations established by the Uniform Standards of Professional Appraisal Practice (USPAP). Retaining a workfile for five years ensures that there is sufficient time to support and verify the appraiser's conclusions should any issues arise or questions be posed regarding the appraisal after the fact. This time frame allows for accountability, transparency, and compliance with both ethical standards and legal responsibilities in the appraisal profession.

While other options may seem plausible, they do not meet the USPAP standards that emphasize the importance of keeping relevant documentation for this specific duration to protect both the appraiser and the clients they serve.